Well I guess being a lawyer does not allow one to be any good at reading filings, so as it was correctly pointed out back in March they were in fact in default and by the way are still in default:
Defaults for Short-Term Non-Convertible Loans for the Year Ended March 31, 2012:
At March 31, 2012, two short-term bridge notes for a total of $115,000 were past due.